This week’s State of the Union, in partnership with Segev LLP, includes the launch of legal igaming in Ontario, more impressive results from New York and record gaming revenue in Nevada
Ontario to launch legal igaming market on April 4
The Canadian province of Ontario will open its legal igaming market on April 4, iGaming Ontario (iGO) the subsidiary of Alcohol and Gaming Commission of Ontario (AGCO) that will oversee the market has announced.
This will conclude a process that dates back to April 2019, when the province’s government announced plans to end Ontario Lottery and Gaming Corporation’s monopoly on igaming, opening up the market to private operators. It then moved forward with these plans in November 2020, with legislation introduced and passed in 2021.
PNG returns to profit in 2021, plans to acquire remainder of Barstool
Penn National Gaming (PNG) returned to net profit in 2021 as the easing of novel coronavirus (Covid-19) restrictions at land-based venues and better-than-expected interactive results drove revenue up 65.0%.
Revenue for the operator’s 2021 financial year, covering the 12 months to December 31, 2021, amounted to $5.91bn (£4.35bn/€5.20bn), up from $3.58bn in the previous year.
New York online sports wagers surpass $1bn in opening 16 days
Consumers in New York wagered more than $1.0bn on online sports betting in the first 16 days since the state’s regulated market launched.
Players spent a total of $1.18bn in the period that the market launched on January 8 to the end of the second full week of legalization on January 23.
Louisiana prepares to launch online sports betting
Louisiana will today (January 28) open its legal online sports betting market, with a number of operators having been cleared to launch.
Sports wagering was legalized in Louisiana in November 2020 following a parish-by-parish referendum, but the market’s launch was delayed to 2021 due to Louisiana only permitting the passing of a new tax in an odd-numbered year.
Nevada gaming revenue reaches record $13.40bn in 2021
Gaming revenue in Nevada reached a record $13.40bn in 2021, despite the state having to contend with novel coronavirus (Covid-19) restrictions during the early part of the year.
The annual total surpassed the previous yearly record of $12.8bn, set in 2007, by 4.7%, while this was also 70.3% higher than $7.87bn posted in 2020, according to figures published by the Nevada Gaming Control Board.
Virginia falls just short of sports betting handle record in December
Consumers in Virginia wagered a total of $426.6m on sports during December, just short of the state’s monthly all-time high.
The December figure was just 0.2% behind the record $427.3m set in October 2021, though it was 6.0% higher than the $402.6m posted in November.
Colorado sports wagers surpass $5.0bn since legalization
Players in Colorado spent more than $5.0bn betting on sports during the first 21 months of legal wagering in the state, while new figures reveal year-on-year growth in revenue and handle for the month of December.
Colorado opened its legal sports betting market in May 2020, enabling consumers to wager both online and at retail sportsbooks located across the state.
Hard Rock secures AZ market access with Navajo Nation deal
The Hard Rock Digital arm of Hard Rock International has secured market access in Arizona through a new partnership with the Navajo Nation Gaming Enterprise (NNGE).
Under the agreement, the operator’s Hard Rock Sportsbook mobile app will launch in the state’s regulated sports betting market.
Hawaii state House passes lottery, casino and betting bills at first reading
Five different bills that would see a casino, a lottery and sports wagering implemented in Hawaii have passed their first readings in the state House.
Each bill has been referred, or re-referred, to four committees- Economic Development, Customer Protection and Commerce, Judiciary and Hawaiian Affairs and Finance.
BetMGM opens sportsbook at Washington DC’s Nationals Park
BetMGM and the Washington Nationals have opened a retail sportsbook at Nationals Park, making it the first sportsbook connected to a Major League Baseball (MLB) stadium.
The BetMGM Sportsbook at Nationals Park features 40 big-screen TVs with live odds boards. Customers can place bets with cashiers at six betting windows or use self-service kiosks.
DC sports betting revenue slips to 10-month low in December
Gross gaming revenue from sports betting in Washington DC reached $1.4m in December 2021, the lowest monthly amount since February of the same year.
Revenue for the month was 48.2% down from $2.7m in December 2020, while the total was also 65.9% lower than the record $4.4m set in November of 2021.
PointsBet secures partnership with Alpine Canada
PointsBet Canada has entered into a new partnership with Alpine Canada Alpin, the country’s governing body for alpine sport.
The multi-year deal commences with the current 2021-22 season and will see PointsBet Canada become the official sportsbook of Alpine Canada.
FanDuel partners Chicago’s United Center to launch new retail sportsbook
Flutter Entertainment-owned FanDuel Group has announced plans to open a new retail sportsbook at the United Center, the home of National Basketball Association team the Chicago Bulls and National Hockey League franchise the Chicago Blackhawks.
Pending necessary approvals, the sportsbook facility will be set over two floors and allow fans at the venue to place a wide range of bets across a host of sports events and contests.